The markets are likely to see a flat to negative opening on account of weak global cues. Also, the weak set of IIP and CPI numbers reported after yesterday’s trading hours may push the investors to do a re-think before allocating fresh money in the market.
Early indicator, SGX Nifty was down 21 points at 7,732 at 8am.
Stocks to Watch
Britannia may see a green start after the FMCG major lined up new launches in the coming quarters and a capex budget of Rs 150-200 crore for the next two years.
BHEL, Network18, JP Associates are likely to react negatively to their respective quarterly numbers.
Sun Pharma may see an uptick after the company posted a net profit of Rs 1,391 crore in the first quarter of FY15, compared with a net loss of Rs 1,276 in the year-ago period.
Essar Oil, NMDC, Coal India and Tata Motors are likely to see a positive start post the good set of quartrely numbers reported.
Asian shares struggled on Wednesday after Wall Street snapped a two-day rally with the crisis in Ukraine sapping investor confidence as it threatens a fragile economic recovery in Europe.
MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.04% while Japan’s Nikkei share average gave up 0.1%.
In Asia, the focus is on a series of Chinese economic data due, including industrial production and retail sales for July.
US stocks ended lower, snapping a two-day rally as energy shares tumbled on sliding oil prices. The pullback occurred on light volume typical of mid-August.
Investors kept an eye on Russia, which sent a convoy of 280 trucks carrying humanitarian aid to eastern Ukraine on Tuesday. Western officials had been wary of the gesture, fearing Russia would use a humanitarian mission as a cover for invading Ukraine.
The Dow Jones industrial average fell 0.06%, to close at 16,560. The S&P 500 ended down 0.16%, at 1,934. The Nasdaq Composite lost 0.27%, to finish at 4,389.